Jobs ‘Bloodbath’ Hits South Africa
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South Africa is bleeding jobs as falling commodity prices and increasing wage demands force mining companies to cut back on staff.
In the past two months, at least seven listed mining companies announced plans to cut as many as 10,000 jobs in Africa’s most-industrialized economy. As the world’s biggest producer of platinum and manganese, mining accounts for more than half of the nation’s exports and employs about 440,000 people.